Iran Increases Asphalt Production, Seeks Shippers

Iran’s biggest asphalt producer is reported to be planning to boost output by almost 15 percent in the next two years.

According to a report from Bloomberg, Hormoz Pasargad Bitumen Products Co. intends to send the increased supply to overseas buyers led by India and the United Arab Emirates (UAE).

Managing Director Keyvan Alaei is quoted as saying that bitumen production will grow to 4 million metric tons a year, from 3.5 million tons currently, with exports climbing to 2 million from 1.5 million tons, adding that the company is in talks to ship on vessels of the the state-run National Iranian Tanker Company (NITC), and on European lines.